Pune, India - November 6, 2018 /MarketersMedia/ — The global defense spending market had total budget allocation of $1,635.9bn in 2017, representing a compound annual growth rate (CAGR) of 2.8% between 2013 and 2017. Market volumes declined with a CARC of -0.1% between 2013 and 2017, to reach a total of 18,672,383 active serving personnel in 2017. The US made up 37.3% of global spending on defense in 2017; this demonstrates the power the US has over the rest of the world.

Scope
• Defense spending covers capital items, military personnel, government defense agencies, and related expenditure on defense and peacekeeping. The value of the market is taken to include both current and capital expenditure on the armed forces, including funding contributions to peacekeeping forces, such as the United Nations Peacekeeping Forces, defense ministries and other government agencies engaged in defense projects, paramilitary forces (when judged to be trained and equipped for military operations) and military space activities. Expenditure on personnel (including salaries and social services of both military and civil personnel, and retirement pensions of military personnel), procurement, research and development, infrastructure spending, military aid (taken as expenditure by the donor country) and general operations and maintenance are also included. Note that current expenditure on previous military activity such as veterans' benefits, weapon destruction, demobilization, and defense conversion are all excluded, as is expenditure on civil defense.
• Values are segmented by the proportion of the market attributable to the army, navy and air force, with any other expenditures contained under "other".
• The volume of the market measures the number of active serving personnel in the national army, air force, navy (including marines and coast guard) and other elements of the service, such as Joint Staff.
• Any currency conversions used in the creation of this report have been calculated using constant 2017 annual average exchange rates.

Reasons To Buy
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